Sport is made for betting

Betfair have hired a Morgan Stanley director as head of strategy as the IPO gets closer. For them, the best thing that can happen this year is a World Cup with all the favourites winning, bookies taking a hiding and Betfair just laughing all the way to the bank. But can they have all the prospectus documents ready in time for a float this year, if they wait that long? This isn't the first float-related hire they've had, they have been making them since 2005 and the media still haven't tired of predicting when it will happen. Just get it over with.... Betfair IPO moves closer with Morgan Stanley director hire Sportingbet are stepping up to the London Stock Exchange (LSE) from the Alternative Index Market (AIM) next month, a move showing they really have graduated to mixing it with the big boys. Their financial reports are quite interesting. Unlike the British retail bookies who were moaning about all the favourites winning and no draws in the early part of the Premier League...